Using the Following Choices, Show the Justification for Each Provision

question 3

Multiple Choice

Using the following choices, show the justification for each provision of the tax law listed.
a. Economic considerations
b. Social considerations
c. Equity considerations
d. Both a. and b.
-Discriminant Index Function (DIF)

• A)Deferral of gains from involuntary conversions
• B)Carryforward of net operating losses
• C)"No change" is a possible result
• D)State income tax applied to a visiting nonresident
• E)IRS special agent
• F)Undoing the "piggyback" result
• G)Ideal budget goal as to new tax legislation
• H)Every state that has a general sales tax has one
• I)Imposed by all states and the Federal government
• J)Imposed by some states but not the Federal government
• K)Imposed only by the Federal government
• L)No correct match provided

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Definitions:

Salesperson

An individual who sells goods or services to customers with the aim of meeting targets or generating revenue.

Benefits

Advantages or favorable outcomes derived from a specific action, policy, or product.

Durable Power

A legal document that grants someone the authority to make decisions on another's behalf, typically in health care or financial matters, and remains in effect if the person becomes incapacitated.

Living Wills

Legal documents that express an individual's wishes regarding medical treatment in situations where they are unable to communicate their preferences.